SHARE ACCOUNTING BACK-OFFICE SOFTWARE: Hyper Stock

If you are a share broker then HyperStock, a share accounting back office software from HyperSoft Technologies, may be worth your attention. Its Windows/RDBMS software is based on Gupta SQL platform, which offers back office solutions for stock broking operations. Broadly it covers capital markets, commodities, futures and options, share accounting and

Demat. 

The interface is simple and any menu item can be reached in two or three clicks and it's possible to get the lowest relevant details as well. The software supports all text formats such as CSV, DAT and TXT given by different exchanges. The licenses are as per server basis that means, any broker house operating with multiple broking cards doesn't have to pay more. Though for commodities market there is an extra charge. There is a facility of electronically signed contract notes, which can be very useful in institutional trades. 

The user is mapped to a particular stock exchange. But one can deal with multiple exchanges also, using this software, permission can be granted for different levels of transaction. Other competing products support only two-three exchanges. A good security feature is that users can also be mapped to clients.

A Demat account includes different items for reconciliation detailed report generation of general ledger accounts

Coming to the basics, the software complies with the normal needs of financial accounting systems that include cash/bank

receipts and payments. The definition of chart of accounts takes a very simple route that includes setting up of balance sheets and profit and loss schedules at this stage itself. Some minor limitations such as disallowance of mapping of a simple account to multiple schedules should be attended to in future versions. 

In the domain of broking operations, it permits you to define settlement dates, record dates and book closures. You can define margin rates and closing rates for a scrip just as you can create a sauda and also do a sauda reversal. It also has the ability to mark deliveries so that the pending delivery lists may be pulled out. Definition of differential derivatives client prefix is another great feature that can lead to some very powerful billing features.

The software allows full compatibility with Demat account operations including complete export and import of items. The Demat account features are quite exhaustive and include different items for reconciliation. One fantastic feature is that there is the possibility to add items to MIS reports. Competitors are based on Foxpro (DOS), Visual Foxpro and DOS, which have limitation in terms of catering to large data and transactions. So, virtually it does not have any competition as apparently there are no such packages on RDBMS front. In that case even the price may not be too high. However, the claim that the product can be Web enabled could not be validated because its scope and cost are still under wraps. The broker business is subject to stringent vigilance from regulatory bodies and new protocols are announced on a frequent basis such as the transaction tax in this budget. This software provides free updates to all such regulatory changes.

The bottom line: Overall, it's a comprehensive package covering almost everything in the accounting domain of most brokerage houses.

Gautam Mukherjee with Sudarshana Mishra